Weekly column: No rate hikes likely while Jupiter in Taurus

Review

Fed Chair Jerome Powell said he and his colleagues remain steadfast in getting policy in line with their 2% inflation goal, but “we are not confident that we have achieved such a stance.” – Jeff Cox, “Powell Says Fed is ‘Not Confident’ It Has Done Enough to Bring Inflation Down,” November 9, 2023.

Global stock indices continued their impressive rallies following their multi-month lows of October 23-30 in most cases. It may be related to the Sun/Mars conjunction of November 18. As discussed in several reports, global stock markets tend to fall at least 8% from their previous high when this aspect is within 8 degrees. That orb began about the time the Sun entered Scorpio on October 23.

In Europe, the Netherlands AEX index bottomed on October 23 at its lowest level in over six months. By Thursday, November 9, it rallied to its highest mark in eight weeks. The German DAX bottomed on October 27, also at its lowest price since March. By Thursday, November 9, it had rallied to a new 4-week high. The Zurich SMI Index bottomed on October 23 at its yearly low. But by Thursday, November 9, it was making a three-week high. The movement in the London FTSE was similar, with a low on October 27, but its rally was over by November 3.

In Asia and the Pacific Rim, the Australian ASX made its yearly low on October 30 but then managed a 3-week corrective rally so far into November 9. China and Hong Kong suffered a greater stock market collapse into their yearly lows of October 23 and 24, respectively. Since then, their rallies have only been corrective, with the high so far for each November 6-9. India’s NIFTY also bottomed on October 26, its lowest price since June, followed by a  corrective rally into November 8. The more impressive performance in this region was Japan’s Nikkei Index, which rallied to its highest mark in 6 weeks, which followed only a modest corrective decline that ended with a double bottom on October 20 and 31.

In the Americas, all markets performed very well following their multi-month lows of October 26-31. All rallied to new highs on Friday, November 10. For Brazil’s Bovespa, this was its highest mark in 13 weeks. For the DJIA, NASDAQ, and S&P, these were their highest levels in 7-8 weeks.

The cryptos were also on fire. Bitcoin tested 38,000 for the first time since May 2022. Ethereum was also strong, posting its highest price since April 2023.

The script was different in precious metals and Crude Oil. After rallying nearly $200 from its low on October 6 to its high three weeks later, Gold gave back over $80 into Friday’s close. Silver’s selloff was not nearly so dramatic (less than $1.00 from its high of October 20), but it was weak, nonetheless. Crude Oil dropped below $75.00 last week for the first time since July 20. It is peculiar how equity markets cheered the Fed’s announcement of no rate hikes for the moment, but still possible for the future, whereas metals and Crude Oil seemed more focused on the Fed’s qualifier that inflation is not yet under control and more rate hikes could still be in the cards. The stars suggest otherwise: no rate hikes are likely while Jupiter is in Taurus, which will remain the case until May 2024. After that, when Jupiter ingresses into Gemini, I think we will see new movement in the employment reports and interest rates.

Short-term geocosmics and longer-term thoughts

Today, the business of politics is about monetizing anger and getting paid for it. And business has never been better. – Senator Joe Manchin, “Why I Won’t Be Seeking Re-Election to the Senate: Both Parties Have Come Under the Domination of the Extremes. I Want to Find a Better Way,” Wall Street Journal, November 10, 2023.

Let’s talk markets first, then politics.

There are a number of potent geocosmic factors in play next week that could reverse stock markets – especially if they are NOT at the beginning of new primary or even longer-term cycles, which they appear to be at the moment. First, both the Sun and Mars will be in opposition to Uranus November 11-13. On Friday, November 17, Mars will trine Neptune. Each of these has a 70% or greater historical correlation to sharp reversals within 4 trading days. Since the market is rallying, we can anticipate this will be a crest, and the overlap is Monday-Thursday.

Additionally, Mars will transit 23° Scorpio on November 14-15, which will form a T-square with the Mercury/Pluto fixed square in the NYSE chart (May 17, 1792). It will be in opposition to the NYSE Sun on November 21. Those aspects imply a sharp decline is possible for the U.S. stock market. Funding to keep the government of the U.S. open is also set to expire on November 17. Last week’s market rally suggests that investors think the shutdown will be averted. But with these potentially combative aspects in effect, it may be, at best, another close call that could at least cause a brief, sharp pullback.

Now, as far as politics go, what we see this week may be a preview of what we will see next year in terms of government dysfunction and combative rhetoric and blame. One only needs to look at the charts of Donald Trump and Joe Biden, the leading candidates for the run next year that no one wants. Well, the majority of U.S. voters do not want to see a rematch between these two veterans (putting it mildly). It opens the door for third-party (maybe fourth and fifth, too) candidates. No one is talking about it, but Robert Kennedy Jr. now has 22% percent of voter support as of November 1, according to www.Politico.com. He also has a 36% plurality of independents, according to a recent Quinnipiac University survey.

Another concern that I discuss in the forthcoming Forecast 2024 Book is that Donald Trump will have transiting Jupiter on his Sun-Uranus-Lunar North Node stellium on Election Day, which is a cosmic indicator for victory. But will he be allowed to run? At the same time (all through 2024), he also has his progressed Mars at 14° Libra on his natal Chiron (wounded), which also happens to fall on the U.S. natal Saturn. They are coming after him, and with Saturn (the government in charge), there is a good chance they will hold him accountable. At least one verdict may not be in his favor. But the U.S. progressed Mars is 17° Libra, on his natal Jupiter. His supporters are not going to sit back. They are going to react.

There is a lot more to this drama taking place as Neptune comes right to the cusp of Aries in the summer of 2024 – in fact, it turns retrograde at 29° 55’ Pisces on July 2, the day I use for the birth of the United States when the vote for independence was completed in 1776. And you know what happened the last time Neptune came to the cusp of Aries in April 1861.

I think the drama could all be avoided if both Trump and Biden chose to spend their golden years out of public office, far removed from the stress of politics that neither needs in terms of their personal well-being. And by doing so allow the country to move forward and avert an otherwise imminent stress. With Neptune being highlighted, it’s OK to wish, isn’t it? Maybe prayer would be more constructive. Maybe a spiritual practice even more so.